According to the latest U.S. pending homes sales report, which was published today by the National Association of Realtors, the real estate market has changed direction again as pending home sales rose during March 2012; furthermore the March 2012 U.S. pending home sales index was also well above the March 2011 index.
The U.S. pending home sales index increased by 4.1% in March 2012 compared with the February 2012 index, from a revised figure of 97.4 to 101.4. The March 2012 index was 12.8 percent above the March 2011 index, which stood back then at 89.9.
This index is a forward looking indicator and considers only the contracts signed and not closing.
This index might suggest that the growth in the U.S. pending home sales has picked up in March, despite the recent decline in this index during February. This news of an increase in pending home sales, might be among the factors to curb the fall of U.S. dollar during today’s trading following the disappointing U.S jobless claims update. Currently the US dollar is traded slightly down against the Euro:
Current Nymex crude oil price, short term futures (May 2012 delivery) is traded up by 0.37%, at $104.51 per barrel as of 17:53*.
Current gold price, short term futures (May 2012 delivery) is traded at $ 1,658.2 per t oz. a $15.9 increase or 0.97%, as of 17:53*.
Euros to USD is currently traded up at 1.3231 a 0.11% increase as of 17:53*.
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